Letting University Space
The letting of space within the functional estate to outside parties is generally discouraged because of the continuing demand for space internally. Exceptions are made where there is some close relationship between the department allocated the space and the proposed tenant, e.g. University spinoff companies, or organisations with shared research objectives. Commercial lettings of functional space can create problems with such things as ratings assessments and VAT exemptions.
Formal approval to let out space is required in the same way as proposals to release or rent space. Formal University approval must be obtained via Estates Services, and the Asset Management team must be involved in agreeing the terms of letting.
The University has formal rules on letting out space.
Where departments propose to let out space to other departments then normal rules on allocation apply and BESC approval must be sought via Estates Services. This is to ensure that arrangements are formalised, even though no lease is required. Departments letting out space are not expected to make a profit out of the space they sub-let. An allocation form must be completed.